GBPUSD 8H Wave Analysis

26 thg 11, 2019

• GBP/USD made nice higher Highs and bullish engulfing on monthly chart
  
• Currently in ABC correction with wave C to complete
  
• Wave C should at least correct to 38% Fib Level, but deeper correction is more likely
  
  We have multiple support at around 1.26
  Rising Trendline
  Falling Channel/TL Retest
  Horizontal Support
  50% Fibonacci Level
• We are currently short since yesterday. Looking for significant price action around the two levels and will close the short around there
  
• IF major price action occurs around this level, a long position will be opened to ride the Wave 3 of Wave 3 to new highs
  
  
• Watch out for GBP News, timing should line up with GB Elections!!